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The Australian dollar is on track to end the week with solid gains on Friday, buoyed by another promise of policy patience from the Federal Reserve and news of a new round of talks on the Sino-U.S. trade dispute.

The EUR/USD broke above 38.2% Fibo of September-November drop at 1.1445. A close above that level would be an important bullish signal. Our long trade is in good shape. We have raised the target to 1.1570 and locked in profit at 1.1370.

Gold price may show no clear direction until Wednesday as investors are awaiting clues on future Fed interest rate path. With rate hike being much likely on Wednesday, in short term gold may approach the nearest support level at USD 1235.